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of toyota are heading higher after the u.s. settled a class action lawsuit. the $1 billion payment is already priced in. okay. welcome to "worldwide exchange." plenty of news to watch out of washington. all of this week, we thought it would be a quiet one. but i won't be inside the beltway if they want to get something done. the u.s. will hit the $16.4 trillion debt ceiling come monday. in a letter to congressional leaders, geithner says treasury will begin taking steps to save the government about $2 billion. geithner says it's harder to predict a time frame because the ongone fiscal cliff talks make it difficult to forecast next year's budget. among the measures treasury will take including suspending state and local government securities and investments in the federal employee pension funds. those don't sound like good practices going forward. president obama meanwhile arrives back in washington after cutting short his christmas vacation in hawaii. congress is back in town, but little progress was made over the holiday to avoid the fiscal cliff and no talks have been set. the se
through, especially today. the fed is pumping action of billions of dollars in the market every month. the same time they're staying low or longer or slower longer which is an inflationary message . liz: again, people still look at that as a safety play, and i don't know if they should. >> because of the deflationary aspect we won't see inflation in the short term. deflationary in the short term. you could see that up to one and a quarter or below one. be careful about getting in front of that. it happens later than sooner. we have to worry about deflationary. liz: i should have been clearer when i said, are they fully yen. what i meant was fully engaged. watching the news flow, reading the new york times and the "wall street journal" to make sure they are on top of the fiscal cliff story. hard to go on vacation. >> absolutely. held in late now. more rhetoric than answers. we need more direction and tangible news so we can go forward. liz: that's higher. people have not even heard mention that it becomes the sort of holiday driving season. people get in the cargo visit their grandpare
action-packed years. lisa jackson is expected to step down early next year. she is giving no reason for leaving the office, although there is some speculation. as the obama administrations chief environmental watchdog, jackson's tenure includes high- profile battles over global warming, the keystone xl pipeline and new rules on coal- fired plants. the man behind an infamous insider trading scandal is still making headlines after his arrest. raj rajaratnam will pay a penalty of $1.5 million to the sec. it's connected to his civil case that stemmed from allegations of insider trading. last year, rajaratnam was sentenced to 11 years in prision for securities fraud and conspiricy. he also paid a record fine of $92 million. steinway has a grand plan to stay in business. the iconic musical instruments company famous for its pianos recently noted it was considering its options, including selling its band instrument division. but, after making cost cuts, steinway's third quarter earnings started showing signs of improvement. meanwhile, talks with potential buyers didn't offer as much value
like outside days and offside gaps. that was a key reversal. we also saw somewhat similar action around the thanksgiving. in 2011. i believe that this rally is genuine. we will need to hold on a monthly closing basis the 1400 plus. where would the charts the? if we take a look, at that horizontal line, you will notice that the outline correspond to keys peak. by taking an aerial view of the markets, sometimes they could offer potential clues. as long as we remain above this 1400 area on a monthly closing basis, we are building a potentially attractive base. ashley: the s&p up 114% since the bottom of march 2009. now, is that a little longing the tooth, as far as a rally? >> i still do not see any cavities. i might add, initial support for the s&p above 1400 on a weekly close. secondary supporters a little closer to the 1360-70 area. if we take if things like momentum indices, if we take a look at other technical indicators, i believe overall, as i said this weekend in my piece, the bullish resume is better than the bearish resume. there is always something, ashley. ashley: we have volat
as possible, moving down that path is the right course of action for us. >> what boehner is proposing is extending bush tax cuts for everybody that makes less than $1 million a year. they say that will take the threat of tax increases off the table for most americans. but the white house and democrats up here on capitol hill have already rejected that option, guys. we're sort of at a little stalemate for this hour, maybe the next. >> there is some talking going on evidently. let's take you deeper inside the new proposals on the table, show you the differences. our senior economics reporter steve liesman has the fiscal clifferences. >> we're only going to do revenue. we're not going to do spending. come back tomorrow and hopefully get more spending. let's just do revenue. it's enough. >> clifferences. >> the first thing here, let's look at tax increases. what we understand with the new proposal of obama to raise tacks on those making $400,000 and higher, that would raise $600 billion in revenue. we believe the revenue side from the gop is $460 billion. just a warning on the gop. not ge
. bertha coombs tracking the action at the market. >> very quiet. very low volumes. gold edging lower as the dollar has edged higher. they say incentives to buy are postponed with so much uncertainty over the fiscal cliff and what's going to happen over the next couple of days. gold is on track for its fifth straight weekly decline, but for the year it's the 12th year of gains. so this is the first year since 2004 that we've seen gold under perform stocks. one of the big winners came under a lot of selling pressure as a lot of people try to get ahead of the fiscal cliff. silver on track its fifth weekly straight decline. copper back-to-back gains this week. a little bit of hope that we'll see more demand for copper this year as china's new government may do some more urbanization. if you take a look at the metals, those with industrial properties, particularly the precious metals, platinum a big winner, palladium a big winner, those used in catalytic converters. >>> thank you, bertha. >>> the iranian navy holding massive drills in the strait of hormuz. this comes from iranian state te
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and for the retail stocks? holiday winners and lossers you do not want to miss next. liz: feds' latest action outweighing the benefits? the ceo with us, with you, to tell you some of the market risks involved. you need to know this stuff. ♪ staying active can actually ease arthritis sympto. but if you have arthritis, staying active can be difficult. prescription celebrex can help relieve arthritis pain so your body can stay in motion. because just one 200mg celebrex a day can provide 24 hour relief for many with arthritis pain and inflammation. plus, in clinical studies, celebrex is proven to improve daily physical function so moving is easier. celebrex can be taken with or without food. and it's not a narcotic. you and your doctor should balance the benets with theisks. all prescription nsaids, like celebrex, ibuprofen, naproxen, and meloxicam have the same cardiascular warning. they all may increase the chance of heart attack or stroke, which can lead to death. this chance increases if you have heart disease risk factors suh as high blood pressure or when nsaids are taken for long periods
is standing by on the new york stock exchange. nicole: you are seeing back-and-forth action on the dow jones industrials. they do seem to like it because basically it is the fed putting everything on a silver platter here and is giving it to the world and printing more and find more. it is doing that for an extended period. the people on wall street are saying what are they trying it to unemployment rates you saw the market selloff and now regain its footing. you do the qe forever. gold will be something that we should take a look at. the dollar is something that we have watched slipping away. it is continuing to do that. we have seen things and drugs doing well. the dow jones industrials are up they have of a percent for the sixth day in a row. people were thinking that the fed would have a very accommodative sense. one of the things that we should look at is the market is very reactionary. the truth of the matter is they are not pulling anything and they are not raising rates anytime soon because the economy is not sustainable on its own. while you are seeing some minor improvements here a
action. this is about the price action, what the charts are telling us. if you can ignore the catastrophes or the crises that we have had over the past two years, the charts have been very, very positive. the recent lows we saw, this extreme low where the stock market sold down 9%, we have seen an amazing bounceback and then follow-through last week that i am very encouraged by. if we can get back above the 1425 pivot from august, they really can set this market on fire one more time. > historically, have you seen anything else like this alan? > > again, the market is focusing on issues, and we have moved past it. if you think about the debt ceiling crisis last year, we moved past it and made new relative highs. so it has been one hurdle after another that we have overcome. and if you look at the long-term charts, look at a 15-year chart, we have done this now, this will be the second time in the s&p. and if we get back to these recent highs at 1470, and we add the distance of the hole that we dug ourselves on top of that, we target 1600 in the s&p, which is about 13% abov
are deeply disappointed that israel insists on continuing its pattern of action. these repeated announcements and plans of new construction have run counter to the cause of peace. israel's leaders continually say they support the path towards a two-state solution, yet these actions only put that goal further at risk. >> photo sharing serve instagram has tried to reassure users that it will not sell their photos. mobile phone photographers have incorrectly interpreted a change in its policy. they began life as an iphone app. facebook bought the site for $1 billion in april. we have a technology expert with the competitive enterprise institute. >> i think they are going to make money by selling these pictures. whether it will be in the form of something like a photo or simply using one person's pictures to advertise their friends -- to their friends. personalization is increased when you are trying to figure out what products you want to buy. this is a road that facebook will go down. it has to make money off it somehow. instagram might not use the photographs to the fullest extent of what the
by the speakers ponied, procedural excuses. they are part of excuses. they expect action. i say to the speaker, this is not a game, it is not scoring political points of putting wins on the board, there will be very serious consequences for many of families if congress fails to compromise. it is time for the speaker to return to the negotiation table ready to compromise. it is time for the house, especially house republicans to remember what is at stake. i repeat. further $50,000 program would pass overwhelmingly in the house. it is up to the speaker to let that occur. melissa: that was harry reid speaking on the floor. he was criticizing speaker boehner. we are waiting for senate authority leader mitch mcconnell to take to the podium and ressond to that. he is up at the podium. we will listen. >> here with the leaders of the democratic party, here in the senate, other than the president, these are the folks with the greatest responsibility for protecting the american people from the tax hike in america. what do they do, they stand in front of the cameras and laugh. they giggled at a bunch of
that action is necessary. i can report that we reached an agreement on all of the tax issues. >> obviously that was not the president. that was the republican leader has been negotiating with vice-president biden to get this thing done, get a from work done behalf of the president. >> it seems that those two were getting some action done. >> this is the way it has worked with these last minute deals, the debt ceiling and others. longtime friends. they knew each other obviously in the senate. more than 20 years. and so he said yesterday he could not get anything done with the democratic leader harry reid and needed to find a willing dance partner. he said he was going to call joe biden. that was about 24 hours ago. liz: right now the markets are very close to session highs with the belief that something is going to happen. we take it right now to the rotunda where rich edson has been all day long sinking his nails into lawmakers. tell us to you have, what you're talking about, what you were hearing. >> this is the framework of the deal they're discussing right now. as just detailed, the aut
, the public's reaction will determine how fast congress moves to fix the damage. >> what forces action after we pass the deadline is the public reaction to it. and so i think the big question is going to be what happens in the real economy, how frustrated are average americans that their paycheck is meaningfully smaller? and if that is a massive reaction, then they'll get a quick response. >> reporter: while u.s. markets have been fairly weak lately, they have not yet registered true alarm at the prospect of deadlock in washington. it seems many investors see the fiscal cliff as a slope that will only gradually impact the economy. but washington analysts believe investors may be underestimating the prospect 2013 will roil the economy with a series of fights over taxes, government shut downs and debt limit increases. >> i actually had one hedge fund manager say to me, "oh, they'd never allow to go over the cliff, because they, they being members of congress, would be embarrassed by this. and i don't think wall street understands what it actually takes to embarrass a member of congress on thes
cliff looks like it's going to be resolved. that's what the vix is saying, and the fed's actions are not going to create volatility, even additional futures contracts in the vix are not higher in the last several weeks here. we did have a spike in bond yields yesterday. some good very excited about the idea that perhaps we were going to have some inflation issues, but, you see, inflation portfolios that spiked yesterday, didn't do anything today. the gold issue is down and the pimco tips, didn't do anything today and even funds, etfs, maria, that short treasuries like that tbt, that bottom one there, that had big volume yesterday and today but not a lot of price action. maria, back to you. >> up next, no impact. someone here says the federal reserve's unprecedented action to keep the economy on track won't make a lick of a difference in avoiding the fiscal cliff. the debate on the fed, the cliff and the economy coming up and represent schakowski says raising the eligibility age for medicare is a non-starter. we'll talk about it and dan niles, ahead of the curve? saw facebook's me
're right. what about the fed, harry? were you pleased or unhappy with the fed action this week? what do we have going now, qe4? >> it's absolutely desperate that you have to keep upping the ante, and showing how weak the economy is. we're still in critical care, on life support, and we'd be in big trouble without $1 trillion in stimulus. in europe the stimulus stopped working in 2012. in 2013 the stimulus is just not going to make an impact. these more wealthy people that will be spending will be hit by more taxes and they will slow down and i think that you're going to see the economy be much worse in 2013, but, you know, we may get more stimulus first in china and europe so i think it's going to be see-saw first half of 2013 and then i think the markets will head down seriously in the second half of 2013. >> but, again, to his point, the wealthy includes savers, both corporate and individuals, grandma and grand past the fed is killing them. >> killing them. >> so if we don't reball the equation, i don't think we'll make any progress. >> very, very important insights. gentlemen, appreciat
in the work earlier in the week that the company hired a merchandising ex action from below. >>> up next, find out who the winners and losers are. and then, in case you missed my interview with democratic senator ben carden yesterday, what are you going to give on, senator? to get this done? >> well, we want to balance the pros. >> we know you -- everybody is saying that over and over again. why don't you explain to our audience what that means, sir. >> first, we've agreed to $1 trillion of domestic spending cuts. that's already been done. >> that's done. we're talking about the here and now, not what's done. >> he wouldn't tell us how he plans to get a deal done. coming up, we will hear from the other side of the aisle. hopefully representative mulvaney will rise above. tdd#: 1-800-345-2550 when i'm trading, i'm totally focused. tdd#: 1-800-345-2550 tdd#: 1-800-345-2550 and the streetsmart edge trading platform from charles schwab... tdd#: 1-800-345-2550 gives me tools that help me find opportunities more easily. tdd#: 1-800-345-2550 i can even access it from the cloud and trade on any comput
message to washington. would that be enough to jolt lawmakers into action? >> and as the year winds to a close, the head of aetna is back with us winding up for higher taxes in 2013 thanks to obama care. wait until you hear how high he thinks they could go. you're watching cnbc, first in business worldwide. stamps.com is the best. i don't have to leave my desk and get up and go to the post office anymore. [ male announcer ] with stamps.com you can print real u.s. postage for all your letters and packages. i have exactly the amount of postage i need, the instant i need it. can you print only stamps? no... first class. priority mail. certified. international. and the mail man picks it up. i don't leave the shop anymore. [ male announcer ] get a 4 week trial plus $100 in extras including postage and a digital scale. go to stamps.com/tv and never go to the post office again. >>> well, we're getting numbers in. turns out retailers saw the weakest holiday season since 2008 hurt by bad weather and more uncertainty about the rising tax increases that could come next year. we're wondering if
and for our entire economy. but the hour for immediate action is here. it is now. >> the president correctly says the time for immediate action is now. apparently not his immediate action, though, with the nation facing a crippling fiscal cliff in just three days, the president calls congressional leaders together and says, you fix it. no, he doesn't offer any new plan from the white house, no compromise. instead the president tells the senate to come up with a deal and the same senate that hasn't passed a budget in years. and the marks don't like it at all, 158 points now tanking and falling further in the after market and we'll have to see how asia opens on monday. it could be ugly. the headlines are falling fast and furious. we're all over it "the kudlow report" starts right now. >>> welcome. i'm michelle caruso-cabrera in for larry kudlow. a lot happened in just the last couple of hours. >> michelle, there's considerably more optimism after the white house meeting between the president and the four bipartisan leaders than there was earlier in the day. mitch mcconnell and harry reid say t
at capitol hill. there's a lot of finger pointing but not a whole lot of action. >> all right, eamon. thanks so much. >> you bet. >>> as negotiations continue on washington, that is a bit of an overstatement, check wall street, the fear index is spiking as the markets drop. we're back above 20 for the first time in fact in five months. up 14% in the past week. let's get trading action here at the nysc. mary thompson joins us on the floor. this is a vulnerable point for the markets. traders have been saying they're going to make a lot of noise and it will get made up. >> suddenly it isn't. so we're having a bit of a reality check. the dow, the s&p and the nasdaq all negative. it's the lowest now of the month. the vix is spiking. moving above the 20 level for the first time in five months. we want to point out the last time we had this angst over what was happening in washington was in august of 2011 when we had the debt crisis and the subsequent downgrade. at that point the vix was well above where it is, more than twice where it is. so while the fear index is high, up 31% in the last session
to be closer to new year's for me to get interested in apple. >> have you looked at the options market action in it? i don't know whether you have. >> i glossed over it and hasn't given me anything substantive yet. >>> i want to draw our viewers' attention to avon products. this is a rare one to leave the s&p 500 but that's what's happening right now. shares up almost near the highs of the day here at 5.2%. analysts aren't exactly sure what's behind the move but still, it's one to mention. remember coty offered to buy avon a couple of times earlier this year. they walked away from that deal twice. in a year we're down more than 15.5% on avon products. >>> automakers revving up sales. mercedes-benz posting its best results ever in america. the ceo of the u.s. division will join us exclusively to talk about how he plans to keep those sales motoring along and whether he is hiring. >>> speaking of hiring, with millions still out of work, why are manufacturers having a tough time filling new positions? phil lebeau searching for answers? wheeling, illinois. >> tyler, the answers will surprise you.
a $2 loss in the gold market. sharon epperson is track being the action down at the nymex. sharon? >> gold prices are finishing the day basically flat here, sue. we're right around $1,693 an ounce. keep in mind, gold prices have lost about $50 in the last week or so and goldman sachs today saying that they are lowering their three, six and 112-month forecasts on gold. they say $1,825 is down from the $1,840 level were expecting. for 2013 they look for the arch price to be $1,810. freeport mcmoran, $9 million deal to diversify into energy, the world's largest copper producer, still a lot of interest in copper. they say their opinion on copper has not changed. retail investors looking to buy copper, buy gold as well. of course freeport is one of the world's largest producers of gold. they're doing it through the exchange traded products. the jjc for copper and gld for gold. copper prices nearly coming in to where gold prices are the last month or so as gold prices and gold holdings are at record levels. back to you. >> thank you very much, sharon. >>> let's get the trading action he
, that has not happened so far. dagen: relate north korea and this latest action and problems in the middle east. north korea's relationship with iran supplying technology there and does this now take our eye off of, say, just syria? >> it should not. any rocket or missile launch in northern korea is a missile launch for by rob. they are allies. they give each other technology. yesterday the president of the united states still clear that he will be the ally, the partner of the syrian opposition. dagen: serious how? what is next? what power does this give the rubble group and where does it take it? >> president obama said that he is not going to send weapons at this point in time. he will be calling for further economic financial and diplomatic measures here and elsewhere. we think that the new leadership of the opposition will sideline before we engage. dagen: greatest threat to us right now. pick a country, pick a group. >> it will always be iran. it is still growing. they have done benghazi. they may do more in the future, unfortunately. dagen: it was great to see you. thank you for your
and melissa. up 125 points. after two days of selling we are seeing some market action to the upside. we are above the 13,000 mark, well above that. 13,076. the nasdaq squeezing it out. concern for apple, but financials are doing well. let's take a look at the group. laying off 11,000 workers, that is the plan. a new ceo in place and he wants to make his mark. up 6.5%. it is under pressure, nowhere near $700 for the all-time high in september. the latest findings other actually going to use the market share for the ipad to the android in some microsoft folks, they're facing intense competition. with the findings you see stocks down 4%. back to you. melissa: interesting. lori: thank you. melissa: a battle for a deal inn the fiscal cliff continues, democrats cannot seem to find a compromise on top earners. rich edson is back in the white house with more. >> president obama said look, if republicans agree to my tax plan, we can get this deal done in a week.3 john boehner is waiting on the president, he says he's read hey to meet with the president at any time. we asked the president obama p
the various government actions. look at wages in greece and now spain. wages in greece are down more than 25%. very painful, but we've heard about the pain already. what we haven't heard so much about is the competitiveness. >> enor husband costs with incredibly high unemployment rates. >> that i'm afraid is what's going on and that's extremely unpleasant. what i'm saying in terms of market action is we know about that, we're focused already on the unemployment, we're not focused on the wage improvement in competitiveness. >> all right giles, more to come from you you. also we'll hear from the stars of les mis about why the classic story will resonate with the current economic climate. and later in the program, we'll also hear from the nigerian finance minister about the resources boom. but you what about the corruption issue. and we'll also hear first from apple's new ceo tim cook about steve jobs' legacy and his future plans for the tech giant. plus of course we'll continue to keep you updated on the reaction and the latest dealings from the earthquake in japan. >>> a 7.3 magnitude earthqu
is action. we must take action to protect our children from harm to preserve the safety of our schools and to keep our community safe. we must take action so that we can tell our children that we are doing everything in ure power to prevent -- in our power to prevent these tragedies from ever happening again. this morning you will be hearing from members of colleagues. steny hoyer. he may not be able to stay here the entire time with us. as we know, as the president said on sunday night, we can't tolerate this anymore. these tragedies must end and to end them we must change. in congress we're blessed with the leadership of congresswoman carolyn mccarthy. she's brought to this debate her own loss in the senseless tragedy, her own experience as a healthcare professional, and her own even handedness to help make that change with legislation to help ban assault weapons. thank you, carolyn, for your leadership and for the inspiration you are to all of us. today, i'm pleased to announce that congressman mike thompson will head a new task force focused on reducing gun violence. he's a vietnam
in europe? what about here and our lack of action in washington? >> obviously, i am very concerned. it shows a lack of confidence for investors. get behind closed doors in a serious way. it is ridiculous that the grover norquist pledge is taken by people we need to raise revenue. the president has to lead and not follow from behind on cutting the growth in entitlements. when people say we are going to cut spending, no, we are going to cut the growth of spending. medicare, medicaid, social security and other discretionary things in the budget. the gap is too wide. other people have pointed out we need revenue at 18.5% of gdp. we need expenditures at 21%. another point that i would like to make is the consumer has pretty much tapped out. if you look at nominal gdp it was up in the last quarter, personal income is only up 3%. that is a bad sign people are just saving and in solving credit is going back up. installment credit is up 11.7% year over year. a lot of these factors do not bode well. dagen: thank you for shaking me up this morning, scott. it was great to see you, as always. terrific in
inflation hits. >> you know, i just believe we are in a holding action until we resolve these immediate political problems. i agree with you was. this is a political crisis first and foremost. it is a weak economy. getting weaker. bond yields are going down. i think what peter speaks of is certainly possible in the near future. perhaps, the more distant future. bottom line, i expect more softening and a lack of confidence. >> the fact of the matter is, big government is very expensive. we need much higher taxes on the middle class. not on the rich, on the middle class. if they do not want to get stuck with this bill, we better start slashing -- [talking over each other] liz: we have to leave it there. thank you very much. really appreciate it. heading north for the winter. canada needs workers. out of work americans are happy to oblige. this is really an amazing story. oil is now trading just north of $90 a barrel. just down a fraction of a point. we will be right back. ♪ liz: welcome back. things are calming down from yesterday when a powerful winter storm pounded the nation's midsec
away if you experience a sudden decreaser lo in vision or aring. this is the age of taking action. viagra. talk to your doctor. ♪ [ male announcer ] they are a glowing example of what it means to be the best. and at this special time of year, they shine even brighter. come to the winter event and get the mercedes-benz you've always wished for, now for an exceptional price. [ santa ] ho, ho, ho, ho! [ male announcer ] lease a 2013 glk350 for $399 a month at your local mercedes-benz dealer. swiss first ♪ lou: joining us now, the former director of the congressional budget office, former commissioner of the financial crisis inquiry commission, how many shows can brag that we have had two members of the commission on the same night and, as well, president of the american action form. pretend you're. >> thanks. lou: fighting words in washington. the speaker today actually said these words. the president has adopted a deliberate strategy to a slow walk our economy right to the edge of the fiscal cliff. are you emotionally moved? do you think the nation is galvanized? >> i don't know
toward a fiscal cliff deal more in the action in the house or senate. the responsibility now to avoid massive taxes and draconian spending cuts resting squarely on the president. fox news chief white house correspondent ed henry with our report. >> just as our economy is really starting to recover and starting to see optimistic signs and we have seen actually some upside to from a whole range of areas, including two from including housing, now is not the time for more self-inflicted wounds , seven not the estimate from washington. lou: president obama's top advisers were quick to dump on the speaker come -- declaring he is backed into a corner. >> they went from plan b to plan seal later. the fact that they could not even plan -- pass that was an embarrassment. >> in private the president's advisers admit they are bit more apprehensive firmly believing mr. obama has the upper end of the public. if the market takes the hit to the commander-in-chief we will still face his share of heat for washington this function to may point republicans are hammering. >> the u.s. economy is estate her
in an attempt to quash rebel gains. nato secretary-general calling the action "acts of a desperate regime approaching collapse." these pictures from syrian activists claim to show damage from one of those attacks. cnn of course cannot independently verify that claim. >>> in north korea, a united states citizen has been arrested. state media reported today that pae jun ho has been arrested for unspecific crimes against the country. the state news agency says pae entered the country november 3rd as a tourist and has confessed to the offense and will face legal action. >>> general motors recalling 118,000 trucks because of a problem with a latch that could cause the hood to fly open. the recalled models, the colorado, the canyon from years 2010 to 2012. gm will notify owners in mid-january and repairs will be done for free. >>> also happening right now, secretary of state arne duncan is about to give remarks on protecting children from gun violence, at an elementary school in washington, d.c., you see the ceremony is just starting up. duncan is expected to call for comprehensive change in po
that that would work. >> it's a -- it's better than no action, and i appreciate the position he is in. i don't think either side, but honestly, i personally believe the administration has been less responsible here. i don't really know what they are thinking. over the next four year, unless something very significant is done first to grow this economy at anything like a heretofore normal rate, anything like a kind of rate that we're supposed to have after a deep recession, and unless the first step or two is taken, not to change the entitlements today but to begin to moderate their demands in the out years, i -- i see no reason for any jubilation, cliff or no cliff. >> all right. we will leave it there. governor, we know that you are leaving office on january 14th to become the president of purdue university. hope to see you soon. best of luck. >> love to be back. >> see you soon, governor mitch daniels of indiana. my exclusive interview with the head of conagra and bon moshe and what he thinks about the fiscal cliff and the house gearing up to vote on speaker boehner's plan "b" action. we'l
for action from their senate colleagues. so the senate and white house are leading this charge at this point. sue? >> yes, we spiked to 13,000 on the dow as we got news that obama will speak under now 28 minutes time. let's bring under john har wood. what else are you able to tell us? the stock market disappointed to learn this may be an attempt to make a political point rather than a broader announcement. >> yeah, i think the stock market was misinformed if it thought that the president was going to come out and announce a deal. still could happen because they could settle in the next few minutes. but so far we don't have a deal yet where we are looking at the contours of an agreement between vice president biden and senate minority leader mitch mcconnell is increase to 39.6 for income somewhere between 400 and $500,000 and probably 450,000. the estate tax would go up slightly from the level of 35% and current law scheduled to go up to 35 and would probably go up slightly to 40%. you are looking at one year extension of unemployment benefits pen you a honk do they defer across the board aut
.99%. that's when the move will happen and people need to be aware, investors need to be aware of what action when that happens. >> especially with the amount of money in fixed income. >> right. sale of the fixed income into the equity asset. what you could wo expect has we move towards that goal is that the market would be -- eks wit ma market would start to heat up. >> feds have been trying to get the investor to take on more risk. >> and they have been successful in getting the investor to take on more risk. there's been no change another than the continued talk of the stimulus. >> when you nad what is happening with higher tax rates it makes it a very, very muddled picture for investors. one that investors need to sort through. tax rates are going higher and if cap gains rate is still discounted relative to ordinary income, maybe 20% rather than 15%, higher but less than ordinary incan come -- >> right. >> the whole map is being arranged with this fed information towards going towards -- >> we talked about that yesterday to rob at blackrock and here is what he had to say. >> can you see d
, rise above d.c." we've heard a lot after a morning of interviews and action on capitol hill. here is what we know now. just a short while ago house speaker boehner said he's still waiting on a solid plan from president obama. >> i'm hopeful we can reach an agreement. this is a serious issue. there's a lot at stake. the person people sent us here to work together towards the best possible solution, and that means cutting spending. the president doesn't agree with our approach, he's got an obligation to put forward a plan that can pass both chambers of the congress. >> meanwhile despite all of the back and forth, the market is seemingly optimistic today. at least some form of a deal will be released. we've been up 100 points on the dow industrials for the past hour. senator mark warner of virginia perhaps putting it best saying compared to the size of our economy the current proposals are relatively small and government should step up and get a deal done. >> we're joined by representative lee terry, republican from nebraska represents the district home to a guy we all know, warren b
[inaudible] >> the action taken -- >> given those actions it will be three years until you achieve your goals. is the message to people who are unemployed basically we're doing all we can? is this the conclusion that given that balance of factors this is the most we can expect? >> first of all, the projections you are looking at is based on each -- this is not committed collective production. what they are is 19 separate participants making their own projections based on their own views of optimal policy so for example includes those folks who think we shouldn't be doing any more purchases and their forecasts are included as well. it is not exactly apples-apples comparison. but it is true that if we could wave a magic wand and get unemployment down to 5% tomorrow we would do that but there are constraints in terms of the dynamics of the economy, in terms of the power of these tools and in terms of the fact that we do need to take into account the possibility of other costs and risks that might be associated with a large expansion of our balance sheet. [inaudible] >> just following
to get in on the action. lance robert, the ceo of street talk advisers, find out why he thinks stocks are better with consistent returns and pay healthy diff denldz. makes sense. his top picks coming up next in a fox business exclusive. ♪ ashley: face call cliff, fiscal cliff, fiscal cliff, that's three more times, holding stocks hostage, down fifth day in a row. energy stocks notably weak again today. six down days in a row so check out the energy select spider exchange traded fund. it's xle, and it's basically a proxy for the energy complex, oil producers, service providers, pipeline operators, and xle, as you see, up 1.25%. in terms of the individual names, exxon mobile down 1.5%. chevron down 1.5%. total down 2%. conoco phillips 1%. red arrows across the board. congressional leaders meeting at the white house right now, and there is -- the question is is there any chance there's a deal before we hit the cliff, or do we just hunker down and wait for spring? gosh, i hope not. lance roberts, ceo of street talk, joining me in a fox business exclusive. lance, thank you. look, they ar
and understand the needs to learn the consequences of his actions, helping him with his wife when football or college is over with. have an impact like that, i can't imagine another field of endeavor that is more rewarding than having that kind of impact on the young man. you would know that from raising your family and as they get older that is what i'm trying to do. liz: i am proud of you. you are really an example. it is never too late to go for that dream. congratulations. >> that means so much to me, thank you so much. liz: thank you ag, happy holidays. >> you got a birthday coming up. liz: i do. thanks for reminding me. the tenth annual twenty-nine cabarrus they. td ameritrade chairman and coach of the coastal carolina, we will be back in just a minute. we are holding on to these grinding higher moves up 14 points. want to y to crack it? yeah, that's the way to do it! now we need a little bit more... [ male announcer ] at humana, we understand the value of quality time and personal attention. which is why we are proud to partner with health care professionals who understand the diffe
action in the cme. telling us why volatility will be a friend of his environment. we have seen in the last few trading sessions getting near and near is a safer place, a hedge and a plea for a flocked to the dollar in hard-core assets like gold and others. what are we seeing in the market today where you are it? >> today the interesting thing is what is going on with option prices were if you look over the last 20 trading days, about a calendar month, the calendar had done nothing. an annualized movement 9.5%. that is crawling way slow. meanwhile we are seeing the vix, the volatility index, creating higher and higher and higher. why? this fiscal cliff, i think we will see a large one-day move coming out of this. up or down. i think that price that the auction players play with setup for one big move and a whole lot of slowness. the asset you are seeing people go for our insurance product. gold is a week dollar play. all of the asset spectators thae are doubling and we will print money. that is why the gold has had such a run-up. shibani: i like this idea and i want to push you
that you face at paychecks? >> all the attention on the fiscal cliff and no action is really producing, i think, a dampered view from small business, and they're just kind of waiting on the sidelines right now. what you're seeing in our clients, they're not opening up their second location, they're not hiring more employees. it's fairly quiet. >> yeah, there it is. that's fiscal cliff. he had been building a head of steam. and suddenly he's talking about business building tailing off. washington, washington -- but do you ever hear them -- they talk about the job creators. you have to protect the job creators. they spoke to the president, i thought the president was starting to understand this. but this is about etiology. this isn't about the war between the states that are gop, and the states that are democrat. etiology does not get solved in a back room. it doesn't. it gets solved by the actual citizens saying, i can't pay for dinner. i can't pay for dinner. i've got to stay, and i can't go to brinker, i've got to go get mccormack spice and hamburger helper. that's when it changes. >> th
companies aren't waiting on washington to reach an agreement on taxes and spending. they're taking action now to pay shareholders, by declaring special dividends. today, whole foods became the latest in a slew of firms opting for one-time payouts. suzanne pratt reports on what's behind these investor pay-days. >> reporter: costco is doing it. brown forman-- the maker of jack daniels and finlandia is also doing it. today, even whole foods is finding it appetizing. they've all announced special dividends, eager to reward their shareholders with a nice check before expected tax increases happen next year. >> current law says that qualified dividend income tax rates are at 15%. and, if no legislation is passed between now and then end of the year, those rates would go up to as high as 43.4%. >> companies just want to pass along these dividends. it's a thank you to shareholders. it sparks interest in their stock. >> reporter: according to s&p, this month alone 216 companies have declared special dividends. last november only 72 firms decided to make similar payouts. this is not the first time
say citi's action today is not the start of a new wave of mass layoffs across corporate america. the nation's job market may not be robust, but it's not frozen, either. in fact, today, the payroll firm a.d.p. reported 118,000 new private sector jobs were added in november, fewer than in october. the blame for last moh's slowdown in hiring falls squarely on hurricane sandy, not on any new or widespread weakness in the economy. >> i would expect that by december, we're going to see some bounce back. much of the disruption from sandy was people simply not being able to get to work or firms not employing people that they ordinarily would have. >> reporter: friday, the government will report it's monthly snapshot of the u.s. labor market. it, too, is likely to reflect temporary effects related to the aftermath of hurricane sandy. >> we're looking for only a 50,000 gain in jobs in november, well under that 170,000 average we've seen over the past three months. >> reporter: hurricane sandy's effects on hiring may be short- lived, but experts worry fiscal cliff concerns could result in
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